OVERSEA CHINESE BANKING Corp Ltd lifted its position in Oracle Corporation (NYSE:ORCL – Free Report) by 309.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,151 shares of the enterprise software provider’s stock after purchasing an additional 43,198 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Oracle were worth $12,360,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Oracle by 2.2% in the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider’s stock worth $22,498,982,000 after purchasing an additional 3,513,464 shares during the period. Northern Trust Corp increased its holdings in shares of Oracle by 0.6% in the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock worth $2,760,048,000 after purchasing an additional 120,889 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider’s stock worth $1,941,195,000 after purchasing an additional 59,164 shares during the period. Amundi increased its stake in Oracle by 3.3% in the first quarter. Amundi now owns 12,736,855 shares of the enterprise software provider’s stock valued at $1,749,280,000 after acquiring an additional 409,691 shares during the last quarter. Finally, Polen Capital Management LLC increased its stake in Oracle by 17.6% in the first quarter. Polen Capital Management LLC now owns 12,609,101 shares of the enterprise software provider’s stock valued at $1,762,878,000 after acquiring an additional 1,885,370 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.
Oracle Stock Performance
NYSE ORCL opened at $283.45 on Monday. The company has a 50-day simple moving average of $274.59 and a two-hundred day simple moving average of $221.61. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72. The firm has a market cap of $808.05 billion, a price-to-earnings ratio of 65.61, a PEG ratio of 3.04 and a beta of 1.53.
Oracle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, October 9th. Oracle’s dividend payout ratio is currently 46.30%.
Analyst Upgrades and Downgrades
ORCL has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Oracle from $246.00 to $320.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 23rd. Redburn Partners set a $175.00 target price on Oracle in a research note on Thursday, September 25th. Sanford C. Bernstein increased their target price on Oracle from $363.00 to $364.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Mizuho increased their target price on Oracle from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Finally, DA Davidson increased their target price on Oracle from $220.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and an average target price of $323.69.
Read Our Latest Stock Report on Oracle
Insider Activity at Oracle
In other news, CEO Clayton M. Magouyrk sold 40,000 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $276.64, for a total transaction of $11,065,600.00. Following the completion of the sale, the chief executive officer directly owned 154,030 shares in the company, valued at approximately $42,610,859.20. This represents a 20.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Sicilia sold 33,845 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $321.16, for a total transaction of $10,869,660.20. Following the sale, the insider owned 132,656 shares of the company’s stock, valued at approximately $42,603,800.96. This represents a 20.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,769 shares of company stock valued at $50,297,667 in the last quarter. 40.90% of the stock is currently owned by company insiders.
About Oracle
Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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